Mr. Lee represents his report from five aspects. Firstly, he
introduces polyester production of China, Asia and the world and China
polyester utilization rate. Secondly, he analyzes the status quo of PTA
in China and Asia. After a very difficult few years, Asian PTA producers
start to see improved margins from 2015, peaking perhaps between 2016
and 2017. SE Asian PTA producers look inwards and focus on retaining
local market share, despite competitive threat from NE Asia (including
China). Thirdly, he introduces Asia PX supply and demand. The fourth
part is global MEG balance. At last, he makes a forecast on polyester
products prices and polyester chain operating rate.